Georgia vs. Alabama College Football Playoff national championship odds: Spread may close at Bulldogs -2; Mattress Mack has wagered $2.7 million on Tide moneyline

Houston furniture magnate Jim McIngvale, aka Mattress Mack, is well-known for his massive wagers on sporting events and he's at it again for tonight's national championship game between No. 3 Georgia and No. 1 Alabama from Indianapolis. He has put down two wagers totaling $2.7 million at Caesars Sportsbook on the Alabama moneyline, which would be worth $3.225 million if the Tide pull the minor upset. They are currently +2.5, the first time Bama is a dog in a national title game under Nick Saban.

Mattress Mack made the wagers as a hedge to offset potential losses on a promotion at his Gallery Furniture stores that offer refunds on purchases of $3,000 or more if Alabama wins. He tends to bet big on the hometown Astros to win the World Series every MLB postseason. 

"With the national championship on the line, we at Caesars Sportsbook are always excited to take the biggest bets on the biggest events," said Ken Fuchs, Head of Sports at Caesars Sportsbook. "We'll see how Nick Saban and Alabama do as current underdogs. Clearly a lot of bettors are siding with the Crimson Tide, including a Louisiana bettor who wagered $300k on them at one of our properties. Bets are flowing in and we look forward to seeing how it plays out."

Mattress Mack isn't the only one hammering Alabama on the moneyline as 91 percent of the money is on the Tide. On the spread, Georgia opened at -2 but early action saw that get to -3. It dipped to back to -2 as recently as yesterday and could close there even though it's currently -2.5. Seventy percent of money on the spread is backing UGA.

"I think the line may continue to go down," said Adam Pullen, Caesars Sportsbook's Assistant Director of Trading. "I think this game is as close to a toss-up as you can get. These teams played each other just over a month ago in the SEC Championship Game so there is a lot of information to go on. It's a rarity when teams playing in the title game played during the year as well, let alone so recently. I'm not surprised the Bama money is coming in now. Georgia was around a touchdown favorite in the SEC Championship Game and got handled pretty easily."

The total opened at 52.5 – there were 65 points scored between the teams in the SEC title game (total was set at 49) – and remains there. The Over is 5-0 in Alabama national title games during the CFP era. About 67 percent of the money is on the Over tonight at Caesars.

"Usually when you get stand-alone or championship games like this, the public is more apt to be on the Over," said Pullen. "It wouldn't surprise me if the total goes as low as 51 and as high as 53.5. I'm sure people are curious if we are going to see a correction with Georgia's defense looking like it had most of the year. They gave up 41 points when they last played Alabama, which is not like them. I think the total is about right where it should be."

Odds to win next season's national championship will be released shortly after tonight's game. Alabama will surely be favored again with Heisman Trophy-winning QB Bryce Young among those back. Young is given Over/Under totals of 315.5 passing yards and 2.5 passing TDs tonight. He threw for 421 yards and three scores in the SEC title game.

When this season kicked off, the Tide were +260 favorites but those odds got as high as +1200 on Nov. 27 when they won in four overtimes at Auburn in the Iron Bowl. Georgia was +750 to win it all when the season started, the fourth-lowest odds, and was the favorite at -220 entering the SEC Championship Game. Next season's title game is at SoFi Stadium in Los Angeles.

Looking for the best picks against the spread, sharp plays on the total, and props you can take straight to the pay window? Join Jonathan Coachman on the Early Edge as he speaks with SportsLine's top handicappers to preview the day's biggest games. We promise to keep it short, sweet and to put some green in your pocket. Early Edge is in your feed every single day by 11 a.m. ET. Subscribe right here on YouTube to watch daily, plus don't miss the Early Edge specials and live shows!